| The Charitable Remainder Trust is similar to other types of trusts except that it has a charitable beneficiary, such as the Foundation for Historic Christ Church. The usual features are that the trust pays an income to one person (often the donor) for a lifetime and perhaps a designated possible survivor for lifetime, and then the principal amount goes to the charitable beneficiary. |
| For a Charitable Remainder Annuity Trust, the amount of annual income you will receive is predetermined, based upon your age and the amount of your gift, so it’s guaranteed and will never change – regardless of the ups and downs of the stock market. For instance, if you were 71 and contributed $50,000 to create a Charitable Remainder Annuity Trust, you could receive a very attractive rate of 6%. This would generate a guaranteed annual income of $3,000. |
| Furthermore, you are entitled to an immediate income tax charitable deduction. You’ll receive income benefits every year, for your lifetime, and perhaps for a second beneficiary as well, before the gift becomes available to Historic Christ Church to help preserve the Church for future generations. There is also the satisfaction of knowing that a significant gift has been decided upon, without giving up income for self or financial support for a loved one. |
